Method and system for facilitating the transfer of intellectual property

ABSTRACT

A method and system for facilitating the transfer of intellectual property are disclosed. In one embodiment, the method of facilitating the transfer of intellectual property includes obtaining at a computer system of a first entity information concerning intellectual property in which an interest is available for transfer (the “available intellectual property”) from a second entity. The method further includes transferring the interest in the available intellectual property by concluding an agreement between the first and second entities. The agreement is representative of an acceptance of an offer concerning the transferring of the interest in the available intellectual property and consideration for the transferring of the interest. At least a portion of the interest in the available intellectual property that is transferred to the first entity is intended to be transferred from the first entity to a third entity.

FIELD OF THE INVENTION

The present invention relates to a method and system for facilitatingthe transfer of intellectual property. In one aspect, the presentinvention relates to an electronic, computer-based system forfacilitating the licensing and sale of patent and other intellectualproperty assets from the original owners of those assets to anintellectual property investment bank (IPIB), and for facilitating thelicensing (including sublicensing) and resale of such transferredintellectual property assets from the IPIB to third parties desirous ofacquiring such assets, both by way of and independent of intellectualproperty asset exchange institutions.

BACKGROUND OF THE INVENTION

Intellectual property assets, including patents, trademarks, copyrights,trade secrets, and a variety of other assets, are among the mostimportant assets of businesses. Recently, intellectual property assetshave grown in importance relative to other assets of businesses such asplant and equipment, access to natural resources, or capital. Theseother assets have become increasingly fungible and commoditized due toglobalization and modernization of the world economy. In contrast, dueto the increasing speed of technological change in the economy,particularly technological change arising from the widespread use ofcomputers and new telecommunications technologies including theinternet, patents have especially increased in their importance tocompanies. By providing a patentee with an ability to preclude otherparties from making, using or selling a particular technology, for alimited time, a patent can provide the patentee with a very secure andvaluable competitive advantage.

While patents can be of great value, only relatively few patents areeffectively exploited by the patentees (or the assignees of the patents)so that the patents actually achieve their maximum value as assets. Manypatents are held by companies that do not make, use or sell products (orservices) embodying the technologies claimed in the patents. Further,relatively few patents are diligently enforced against other companiesor licensed in the most profitable fashion possible, to all of or even afew of the companies (or other parties) who would be interested inlicensing those patents and willing to pay for such licenses.Additionally, very few companies seriously investigate the possibilityof selling their patents.

There are several reasons for the failure of patent-holders to maximizethe value of their patents through licensing or sale. Some patents areheld by companies which for business reasons have chosen not to make,use or sell technologies covered by the patents, even though there is amarket for such technologies that other companies would be interested inexploiting if they were able to license or purchase those same patents.More commonly, many patent holders fail to realize, due to bad judgmentor ignorance (or simply due to the complexity and uncertainties thatexist in the financial valuation of patents), the potential value oftheir patents. For example, many patents that in fact cover a variety oftechnologies in a variety of industries are held by companies, or onlylicensed to companies, which make, use or sell products embodying only asmall subset of those technologies within only a subset of thoseindustries. Typically, such patent-holders are not aware of all of thepotential applications of their patented technologies.

Insofar as patents are of great and increasing value, and insofar aspatents have historically been underexploited as assets particularly dueto companies' inadequate understanding of their patents as well as otherinefficiencies in the licensing or sale (or other transfer) of patents,there is a growing need for mechanisms and institutions that facilitatethe licensing and sale of patents. Recently, various groups have begunto recognize this need and have begun to respond to it. In particular,several groups have begun to develop patent or intellectual propertyasset exchanges, which include (for example) The Patent and LicenseExchange, PatentCafe.com and yet2.com. The development of such exchangeshas been facilitated by the development of computers andtelecommunications technologies generally, and the internetspecifically. These exchanges provide markets or forums in whichindividuals owning intellectual property assets can place those assetsup for licensing or sale. Others interested in licensing or purchasingintellectual property assets can then obtain information regarding, andeventually license or purchase, the intellectual property assets thatare available for transfer. Such exchanges are somewhat analogous tostock markets, which provide forums in which companies with securitiesmay be linked with individuals who desire to purchase securities.

In addition to the groups developing such intellectual property assetexchanges, various law firms (particularly patent boutiques or generalpractice firms with patent or intellectual property departments) andaccounting firms have begun to develop intellectual property assetmanagement programs, which monitor clients' patents (and otherintellectual property assets) and provide services designed to leverageclients' intellectual property portfolios. In providing these services,law firms and accounting firms have attempted to build upon theirtraditional expertises in preparing, prosecuting and defendingintellectual property assets, accounting for intellectual propertyassets, and providing assistance in negotiating and developing contractsregarding the license or transfer of intellectual property assets. Amongthe services provided in intellectual property asset management programsare counseling-type services designed to help clients determine whichintellectual property assets are worth developing and protecting,including auditing-type services to help clients determine whatintellectual property assets they actually own.

In addition, some of the law firms and accounting firms have begun toprovide (or begun to work with partners who can provide) financial orstrategic management expertise rather than strictly legal or accountingexpertise. By providing such expertise, the law firms and accountingfirms hope to provide clients with further counseling as to how they maydevelop intellectual property assets that will be of value given presentand future market needs. Such counseling may include advice to license,sell, or purchase patents. Indeed, one important service some of thesefirms are offering is assistance in “mining” the patents and otherintellectual property assets the clients already own by reexamining theassets and attempting to find new markets (or markets otherwise unknownto the clients) in which those assets may be exploited. Such “mining”may include the finding of new potential licensees or purchasers of theclient's intellectual property assets.

In addition to the groups developing intellectual property assetexchanges and intellectual property asset management programs, somegroups are developing intellectual property brokerages. The developmentof such brokerages, like the intellectual property asset exchanges, hasbeen facilitated by the emergence of the internet. Some of thesebrokerages, such as DaVinci-Online™ and TTG/Newfuntiers focus primarilyon acting as brokerages uniting individual inventors (who have ideas or,in relatively limited cases, actual patent rights) with persons who maydesire to implement, purchase or license those ideas. Other brokerages,such as The Hook focus on acting as brokerages uniting companies withpotential markets. The brokerages provide services including marketanalysis services (to determine the potential marketability of aclient's ideas or patents), marketing services (including on-linedisplay of information regarding clients' technologies), and searchingfor potential development partners and purchasers/licensees. Thebrokerages each operate by receiving up-front fees and/or commissionsfor the services they provide. The brokerages less frequently takeequity interests in their clients, since the taking of such equityinterests is a less reliable arrangement for earning income.

Although intellectual property asset exchanges, law firms and accountingfirms with intellectual property asset management programs, andintellectual property brokerages are beginning to provide valuableservices, each of these types of institutions has significantlimitations in facilitating the licensing or sale of patents. Withrespect to intellectual property asset exchanges, such institutions areonly in the beginning stages of their development into mature, efficientforums for the trading (licensing, selling and purchasing) ofintellectual property assets. It remains to be seen whether such forumscan radically or only partially streamline the process of puttingtogether licensors and licensees, and buyers and sellers, ofintellectual property assets, by reducing information barriers andvarious other risks.

Further, regardless of whether intellectual property asset exchanges aresuccessful in providing more efficient forums in which to tradeintellectual property assets, the effectiveness of such exchanges willalways depend in large part upon the skills of those individuals whointeract with the exchanges (e.g., the parties holding “seats” on theexchanges). Such persons will need skills in effectively placinginformation onto, obtaining information from, and interpretinginformation obtained from the exchanges. Further, such persons willrequire decision-making skills concerning trading on the exchanges,e.g., skills in determining when it is appropriate to in fact proceedwith trades on the exchanges. Although some large corporations (e.g.,IBM) may have sufficient resources and incentive to develop theexpertise necessary to operate in conjunction with the exchanges,without intermediaries, most small and mid-size corporations willrequire considerable assistance to operate in conjunction with theexchanges.

Law firms and accounting firms also are constrained to a significantextent from effectively facilitating the licensing and sale of patents.Law firms and accounting firms are restricted by laws that precludenon-lawyers from entering into partnerships with lawyers. Such laws tendto limit law firms' ability to hire persons with non-legal (e.g.,accounting, financial, or managerial) expertise, and to limit accountingfirms' ability to hire persons with traditionally legal expertise (e.g.,expertise in obtaining patent rights, enforcing those rights, anddeveloping contracts regarding those rights), although some accountingfirms have been attempting to overcome these limitations by offeringlawyers very high compensation. In addition, at least law firms tend tobe conservative in attempting to develop new service capabilities thatare not strictly legal in nature. The organizational structure of lawfirms (a rigid partner-associate model) tends to preclude the hiring ofpersons who are not lawyers. Consequently, in developing theirintellectual property asset management programs, law firms have beenattempting to fit lawyers into non-legal roles or, alternatively, toform partnerships with outside, non-legal institutions. Both of theseways of developing non-legal expertise have significant inefficiencies.

As regulated, service-oriented firms, both law firms and accountingfirms face additional constraints that limit their abilities toeffectively facilitate the licensing and selling of patents. Neither lawfirms nor accounting firms are comfortable with marketing their clients'products or services, which may include licensable or saleableintellectual property assets. Nor are law firms or accounting firmsgenerally comfortable with the prospect of taking a financial interestin their clients or clients' assets. Both types of firms are riskaverse. Further, at least law firms face legal rules that preclude (orat least cloud) their ability to take an interest in their clients.Because law firms and accounting firms typically must therefore becompensated on a per-job basis or on an hourly basis (rather than inequity or by sharing in a clients' profits), these firms have only amoderate incentive to assist their clients in achieving greater profitsby more effectively exploiting their patents.

Additionally, both law firms and accounting firms are somewhat, if notcompletely, limited in representing clients whose interests conflict. Asa result, there are significant barriers to the growth of law firms andaccounting firms in their efforts to facilitate the transfer ofintellectual property to and from many different clients. Indeed, lawfirms and accounting firms are to a significant extent precluded fromassisting in deal-making between parties who may be interested inexchanging patent rights simply because the firms are uncomfortable with(or incapable of) representing (or mediating between) parties onopposite sides of a negotiating table.

These limitations on the abilities of law firms and accounting firms tofacilitate the licensing and sale of patents affect not only the firms'ability to assist clients in their direct dealings with other partiesbut also the firms' ability to represent clients on, or to offer advicein regards to, the intellectual property exchanges. Even though lawfirms and accounting firms may be able to develop some expertise inrepresenting their clients on the exchanges, providing the servicesassociated with representing clients on the exchanges will likely beinefficient for law firms and accounting firms. The services required byclients in dealing with the intellectual property exchanges will beanalogous to brokerage services provided in relation to stock exchanges.However, the providing of such services will require a high degree ofexpertise in a combination of areas, including trading expertise,negotiation expertise, financial valuation expertise, technicalexpertise, and legal expertise. Persons qualified to provide suchservices will require skills above and beyond those of (or at leastdifferent than those of) typical lawyers (patent or otherwise),accountants or managers.

Intellectual property brokerages also are hindered by certainlimitations that prevent their effective facilitation of intellectualproperty transfer. Although intellectual property brokerages sometimestake equity interests in their clients, generally such brokerages do notpurchase, obtain licenses (including the rights to sublicense) in, orotherwise obtain intellectual property rights in the intellectualproperty of their clients. Rather, the intellectual property brokeragesprovide services to facilitate the sale, licensing or other developmentof their clients' intellectual property, and the brokerages are paid fortheir services by way of up-front fees or commissions. Consequently,intellectual property brokerages are hindered by a lack of certainincentives for employees (e.g., a lack of institutional mission) and alack of flexibility. The employees of intellectual property brokeragesdo not typically obtain the individual satisfaction of “ownership” (oreven a lesser possessory interest) in the intellectual propertyinterests with which the brokerages are dealing, and the employees arenot involved in any tangible “building-up of the enterprise” that couldgive the employees a special type of satisfaction and motivation. Thebrokerages and their employees must constantly adapt to theever-changing, sometimes short-sighted demands of their clients.

Additionally, because the intellectual property brokerages lackownership of intellectual property assets (or possession of interestsin/rights to the intellectual property), the brokerages' value isdetermined almost exclusively by the talent of their personnel or “humancapital.” As with respect to many service firms, this lack ofidentifiable assets can limit the brokerages' ability to raise capital(e.g., through public trading of the brokerages' stock on stockexchanges). This inability to raise capital in turn limits thebrokerages' effectiveness in facilitating intellectual propertytransfer. As in the biotechnology industries, where identifying marketneeds and developing valuable, marketable products requires greatexpenditures sustained over long periods of time, the identification anddevelopment of opportunities for intellectual property transfer canrequire investments over a long period of item. Intellectual propertytransfer often is a complicated, risky business requiring significantpatience. Because brokerages lack capital and must respond to theimmediate demands of their clients, brokerages must constantly focus ondeveloping the most obvious, easily-attainable, short-term opportunitiesfor intellectual property transfer, and must ignore the more challenging(and often long-term) opportunities.

Given the growing importance of intellectual property assets tocompanies, given that the value of intellectual property assets could besignificantly enhanced by increased and more efficient licensing andsale of intellectual property assets, and given the limitations ofintellectual property asset exchanges, law firms, accounting firms, andintellectual property brokerages in facilitating intellectual propertytransfer, there exists a critical need for a system for facilitating thetransfer of intellectual property such as the licensing and sale ofpatents. Further, because of the continuing development and increasinguse of computer and telecommunications technologies generally, and theinternet specifically, including the development and use of such systemsby and in relation to the intellectual property asset exchanges, thereexists at present a critical need for a system for facilitatingintellectual property transfer that employs these modern computer andtelecommunications technologies. The need is for, among other things, asystem that employs these technologies for the purposes of efficientlyinterfacing with parties who would like to directly license, sell orpurchase intellectual property assets (as well as the parties'representatives, who may include law firms, accounting firms orintellectual property brokerages), interfacing with the intellectualproperty asset exchanges, processing information obtained from each ofthese entities, and promoting the transfer of intellectual propertyassets among these parties.

From the above, it is apparent that it would be advantageous if therewas a system in place that facilitated intellectual property transfer(where intellectual property transfer is understood broadly to encompassthe transfer of any and all types of intellectual property assets,including patents, trademarks and copyrights). It would be additionallyadvantageous if such a system was capable of interfacing with companiesor individuals who were interested in licensing or selling theirintellectual property assets, and with companies or individuals who wereinterested in licensing (or sublicensing) or purchasing others'intellectual property assets. It would further be advantageous if such asystem was capable of streamlining the processes of licensing andselling patents such that the processes (and operation of the systemitself) were quick, easy to understand and implement (e.g.,standardized), and inexpensive to use, for potential licensors,licensees, sellers and buyers of patents. It would additionally beadvantageous if such a system was capable of addressing the needs ofmany different parties with respect to the transfer of many differentpatents, in a rapid, efficient manner. It would further be advantageousif such a system eliminated or avoided the constraints faced by lawfirms and accounting firms in relation to their representation ofclients who wish to license, sell or purchase patents.

It would be further advantageous if such a system was capable ofinterfacing with the emerging computer-based, internet-orientedintellectual property asset exchanges to allow for licensing and sellingof patents on those exchanges in an efficient, inexpensive and reliablemanner. It would additionally be advantageous if such a systemeliminated or avoided the constraints faced by law firms and accountingfirms vis-à-vis the intellectual property asset exchanges, and improved(directly or indirectly) the accessibility and efficiency of theexchanges for companies or individuals. It would further be advantageousif such a system was not hindered by the constraints affectingintellectual property brokerages, including overly-demanding clients, alack of mission for its employees, a lack of capital, or a lack offlexibility (in particular, to pursue long-term, but profitable,opportunities for the transfer of intellectual property). It wouldadditionally be advantageous if such a system was fast-operating, easyto use, and inexpensive to use and operate, by potential licensors,licensees, sellers and buyers of patents, in relation to theintellectual property asset exchanges. It would be further advantageousif such a system was capable of facilitating a multiplicity of differenttypes of intellectual property transfer arrangements involving amultiplicity of different types of licensors, licensees, sellers andbuyers.

SUMMARY OF THE INVENTION

The present invention relates to a first method of facilitating thetransfer of intellectual property. The method includes obtaining at acomputer system of a first entity information concerning intellectualproperty in which an interest is available for transfer (the “availableintellectual property”) from a second entity. The method furtherincludes transferring the interest in the available intellectualproperty by concluding an agreement between the first and secondentities. The agreement is representative of an acceptance of an offerconcerning the transferring of the interest in the availableintellectual property and consideration for the transferring of theinterest. At least a portion of the interest in the availableintellectual property that is transferred to the first entity isintended to be transferred from the first entity to a third entity.

In one particular embodiment of this first method, either the obtainedinformation concerning the available intellectual property is obtainedat the computer system from an IP exchange computer system, and themethod further comprises providing a bid after obtaining the informationconcerning the available intellectual property; or the method furthercomprises providing to the IP exchange computer system informationregarding an intellectual property interest and then receiving a bid forthe intellectual property interest.

The present invention further relates to an additional method offacilitating the transfer of intellectual property. The method includesobtaining at a computer system of a first entity information concerningintellectual property in which a second entity desires to obtain aninterest (the “desired intellectual property”). The method additionallyincludes transferring the interest in the desired intellectual propertyby concluding an agreement between the first and second entities. Theagreement is representative of an acceptance of an offer concerning thetransferring of the interest in the desired intellectual property andconsideration for the transferring of the interest. At least a portionof the interest in the desired intellectual property that is transferredfrom the first entity was transferred from a third entity to the firstentity.

The present invention additionally relates to a system for facilitatingthe transfer of intellectual property. The system includes anintellectual property investment bank (“IPIB”) computer system having aprocessor coupled to a memory, a user interface and at least oneinput/output device. The IPIB computer system is linked to and capableof communicating with at least one of an IP owner computer system, an IPdesirer computer system, and an IP exchange computer system. The IPIBcomputer system is capable of receiving information concerning at leastone of intellectual property that is available for transfer (the“available intellectual property”) from an IP owner to an IPIB andintellectual property that is desired for transfer from the IPIB to anIP desirer (the “desired intellectual property”). The IPIB computersystem is capable of at least one of receiving or providing a signalindicating an acceptance of an offer concerning a transfer of the atleast one of the available intellectual property and the desiredintellectual property.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a block diagram showing an intellectual property investmentbank (IPIB) system for facilitating the transfer of intellectualproperty including the licensing, selling and purchasing of intellectualproperty (IP), and the relationships of the system with IP owners, IPdesirers, service firms (e.g., law/accounting firms), and IP exchanges;

FIGS. 2( a)-(c) are block diagrams showing exemplary internal elementsof the IPIB system of FIG. 1 and exemplary communication links of thoseelements to systems of IP owners, IP desirers and IP exchanges;

FIG. 3 is a flow chart showing exemplary steps of the IPIB system inrelation to IP owners and IP desirers;

FIG. 4 is a flow chart showing exemplary steps of the IPIB system inrelation to IP exchanges;

FIGS. 5( a)-(c) are flow charts showing additional exemplary steps ofthe IPIB system in relation to IP owners, IP desirers and IP exchanges;and

FIGS. 6( a)-(f) are schematic diagrams of exemplary web pages of a website that can be implemented in at least one embodiment of the IPIBsystem.

DETAILED DESCRIPTION OF THE INVENTION

Referring to FIG. 1, a new system is shown for facilitating the transferof intellectual property (IP), including transfer by way of licensing,selling and purchasing patents and other IP. The new system assists inovercoming the above-described limitations inherent in the institutionsof intellectual property asset exchanges (“IP exchanges”), law firms andaccounting firms having intellectual property asset management programs,and intellectual property brokerages. By facilitating the transfer ofIP, the new system also facilitates the transfer of technology thatoccurs along with the transfer of IP. The new system operates in afashion that is analogous to an investment bank, and could be termed anintellectual property investment bank (IPIB) 110. Analogous to a typicalinvestment bank, which serves as an intermediary between companieswishing to sell their securities and buyers for those securities, IPIB110 ideally serves as an intermediary between parties who are interestedin licensing or selling their patents (IP owners) 120 and parties whoare interested in becoming licensees of, or purchasing, patents (IPdesirers) 130. Further analogous to a typical investment bank, whichinterfaces with the securities exchanges, IPIB 110 also interfaces withintellectual property asset exchanges (IP exchanges) 140. Thus, IPIB 110operates both as a direct intermediary between parties wishing toprivately exchange patent rights (IP owners 120 and IP desirers 130) andalso as an intermediary acting between such parties and IP exchanges140, which are at least semi-public.

Also analogous to an investment bank, which purchases clients'securities, IPIB 110 takes an interest in the patents (and other IP) ofits clients, the IP owners 120, by obtaining a license to (including aright to sublicense), or purchasing outright, the patents of the IPowners. By licensing or purchasing its clients' patents, IPIB 110 gainsa strong and direct financial incentive to sublicense or resell itsclients' patents, something which is lacking in law firms and accountingfirms (or, collectively, service firms) 150. In the case where IPIB 110licenses (e.g., sublicenses) the patents of IP owners 120 to IP desirers130, the IPIB typically retains a proportion of whatever royalties flowfrom the IPIB's sublicensing of the licensed patents, which align theIPIB's interests with those of the IP owners (from whom the IPIBlicensed the patents). As the IPIB 110 obtains more and more interestsin a great many IP rights, the personnel of the IPIB will gain greaterexpertise and the IPIB will become known by IP owners 120 and IPdesirers 130 as a significant source of desirable IP and a significantsource of opportunities for making use of their existing IP.

Unlike service firms 150, which represent their clients and consequentlymust avoid conflicts of interests (both with respect to their clients'interests directly and with respect to the simultaneous representationof multiple clients whose interests conflict), IPIB 110 only exists tofacilitate IP transfer (rather than to represent clients) and is not (atleast directly) restricted by conflicts of interest issues. Thus IPIB110, like an investment bank for securities, is relatively unconstrainedin marketing or otherwise attempting to find licensees (or sublicensees)or buyers for its clients' patents. Further unlike service firms 150,IPIB 110 exists in the corporate form and is flexible in the hiring andtraining of persons having legal, technical, managerial, trading andother skills necessary to facilitate IP transfer, including skills thatrelate to IP exchanges 140. In addition, IPIB 110 does not precludeservice firms 150 from performing their traditional services forclients, and indeed may require the assistance of such service firmsitself.

IPIB 110 does not suffer from the same limitations as IP brokerages asdescribed above. Because IPIB 110 obtains interests in IP assets, ratherthan merely receiving payment in the form of commissions or up-frontfees, IPIB 110 has great flexibility to pursue a variety of types ofbusiness strategies in facilitating IP transfer as it sees fit,including strategies that require a more long term approach toidentifying markets for and suppliers of desirable IP. In particular,because IPIB 110 has interests in/rights to IP or outright ownership ofIP, the IPIB has a greater capacity to raise capital, which facilitatesthe pursuit of its various business strategies. IPIB 110 also canprovide greater motivational satisfaction to employees who contribute tothe building of an enterprise with a growing asset base. In certaincircumstances, the IPIB 110 can hire IP brokerages to assist in sellingand licensing IP to IP desirers 130, purchasing and licensing IP from IPowners 120, or selling, purchasing and licensing to and from IP ownersand desirers via the IP exchanges 140. That the IPIB 110 can draw uponthe talents of individual employees of IP brokerages in circumstanceswhere those talents are particularly helpful in promoting the transferof IP is one of the strengths of the IPIB. However, since IP brokeragesonly perform a middle-man type function between the IPIB 110 and the IPowners 120, IP desirers 130 and IP exchanges 140, and since the IPbrokerages' services are only sometimes drawn upon by the IPIB, the IPbrokerages are not shown in FIG. 1.

As shown in FIG. 1, IPIB 110 interacts with IP owners 120, IP desirers130, IP exchanges 140 and service firms 150 in at least the followingways. IPIB 110 obtains patents and other IP, including patent licenses,from IP owners 120. IPIB 110 resells, licenses or sublicenses thepatents and other IP (including licensed patents) to IP desirers 130 whoare interested in purchasing or licensing the IP. Upon purchasingpatents and other IP from IP owners 120, IPIB 110 will pay the IP ownersfor the IP. Upon reselling or licensing purchased patents, IPIB 110 willbe paid by IP desirers 130. In the case where IPIB 110 licenses IP fromIP owners 120 and in turn sublicenses the IP to IP desirers 130, theIPIB will typically not pay the IP owners up front upon licensing the IPbut rather will only pay the IP owners a proportion of any paymentsreceived (e.g., royalties) from the IP desirers (although up-frontpayment of IP owners is also possible).

IPIB 110 also interacts, at least in certain circumstances, with IPexchanges 140. By interacting with these public or semi-public IPexchanges 140, IPIB 110 will be able to broaden its ability to market(or disseminate information about) the IP that it owns or has licensed,and to find IP desirers 130 interested in purchasing or licensing thatIP. Likewise, IPIB 110 will also obtain new information about, and newopportunities to purchase or license, IP from IP owners 120 through IPexchanges 140. As shown in FIG. 1, IPIB 110 will both sell and licenseIP to IP desirers 130 via IP exchanges 140, and purchase and license IPfrom IP owners 120 via the IP exchanges. Correlatively, IP owners 120will receive payments for the IP from IPIB 110 via IP exchanges 140, andIP desirers 130 will make payments to the IPIB via the IP exchanges.Further as shown in FIG. 1, service firms 150 (e.g., law firms andaccounting firms) will continue to provide legal, accounting and relatedservices to the clients they represent, which will continue to includeIP owners 120 and IP desirers 130, and will also include IPIB 110 insome circumstances.

Turning to FIGS. 2( a) and 2(b), block diagrams are provided showingexemplary internal elements of an IPIB computer system 210 of IPIB 110.FIG. 2( a) shows a general form of IPIB computer system 210, which canbe either internet-based or not internet-based. In FIG. 2( a), IPIBcomputer system 210 is shown to be linked to computer systems 220, 230and 240 of IP owners 120, IP desirers 130 and IP exchanges 140,respectively, by communication links 250, 260 and 270, respectively.Communication links 250, 260 and 270 are typically electroniccommunication links, such as telephone lines, cable lines, optical fiberlines or wireless (including satellite) communication links, althoughother types of links are possible as well. Communication links 250, 260and 270 are capable of allowing communication between computer system210 and computer systems 220, 230 and 240 over the internet (e.g., theworldwide web) as well as over more private networks or limitedcommunication arrangements. Communication links 250, 260 and 270 aremeant to include various intermediate telecommunications facilities thatare necessary for allowing communication over communication links 250,260 and 270. FIG. 2 is meant to indicate that IPIB computer system 210can be linked to any or all of computer systems 220, 230 and 240, butneed not be linked to any or all of these computer systems at any onetime.

IPIB computer system 210 preferably includes an input/output system 218for allowing communication with (for providing information to andreceiving information from) computer systems 220, 230 and 240 overcommunication links 250, 260 and 270. Also within computer system 210 isa processor 214, which is coupled to a user interface 212, a memory 216and input/output system 218. Processor 214 can be any computerizedprocessing device (including electronic and non-electronic technologies,and hardware and software), such as a microprocessor, microcontroller,personal computer, mainframe computer or supercomputer (with or withoutparallel processing capabilities). Memory 216 includes programinformation for directing the operation of processor 214, and also caninclude information (including database information) regarding IP and IPowners 120, IP desirers 130 (including information regarding availableand desired IP), IP exchanges 140 and service firms 150. Indeed, memory216 is capable of storing any of the information described below (withrespect to FIGS. 3-6) as being accessed by IPIB computer system 210.User interface 212 of computer system 210 is a computer terminal (e.g.,with a keypad and monitor), touch screen, voice-actuated input/outputsystem or other interface which allows interaction between employees(including management) of IPIB 110 with IPIB computer system 210.

Many embodiments of IPIB computer system 210 are possible and differentembodiments would be appropriate for different circumstances ofoperation. If IPIB computer system 210 has relatively few interactionswith computer systems 220, 230 and 240 of IP owners, desirers andexchanges 120, 130 and 140, a single personal computing system (e.g., adesktop computer) could be appropriate for use as computer system 210.If IPIB computer system 210 has a great many interactions with computersystems 220, 230 and 240 of the IP owners, desirers and exchanges, morepowerful computer systems and, in many cases, a multiplicity of computersystems (each potentially having separate or redundant communicationlinks with the computer systems of the same or different IP owners,desirers and exchanges). In certain embodiments, IPIB computer system210 can consist of a network of many separate computer systems. Further,in certain embodiments, user interface 212 can become effectivelyunnecessary because IPIB computer system would be completely automated.In such embodiments, IPIB computer system 210 would automaticallyconduct all transactions between IPIB 110 and IP owners, desirers andexchanges 120, 130 and 140 and not require decisionmaking inputs orother expertise from employees of the IPIB (human beings would only needto access the system in order to program or modify it, or to looselymonitor its operation). In the preferred embodiment of the invention,IPIB computer system 210 operates as an internet-based facility forconducting the sale, purchase and licensing (and other transfer) of IPto and from IPIB 110 over the internet. FIG. 2( a) is meant to includean internet-based embodiment of IPIB computer system 210, in which thecomputer system operates a website that can be accessed by andcommunicate with any (or all) of computer systems 220, 230 and 240. FIG.2( c) shows in particular such an internet embodiment in which aninternet-capable IPIB computer system 210(a) is coupled by way of theinternet 299 to internet-capable computer systems 220(a), 230(a) and240(a) for an IP owner 120, an IP desirer 130 and an IP exchange 140,respectively. For IPIB computer system 210 to be capable of operating inconjunction with the internet, the IPIB computer system would requirethe use of one or more web servers (or web server programs) that wouldhost the website of IPIB 110.

Although in FIG. 2( a) individual communication links are shownconnecting IPIB computer system 210 with each of IP owner computersystem 220, IP desirer computer system 230 and IP exchange 240, computersystems 220, 230 and 240 can be coupled to the IPIB computer system viashared or multiplexed links (including a single link) or a variety ofother types of links used in connection with the internet or without theinternet. In the embodiment of FIG. 2( c), the IPIB computer system210(a) is connected by a single line to the internet 299, by which it isthen coupled to the remaining computer systems 220(a), 230(a), and240(a). IPIB computer system 210 can be operably connected to theinternet (as typically would IP owner computer system 220, IP desirercomputer system 230 and IP exchange computer system 240) using a varietyof techniques that are well known in the art, including Java™ basedprogramming (developed by Sun Microcomputer Corp. of Palo Alto, Calif.)or the TCP/IP protocol.

Web server functionality can be provided by the elements of IPIBcomputer system 210 that are shown (e.g., processor 214, memory 216, andinput/output 218) or by an additional computer (or computer elements) incommunication with those elements. However, FIG. 2( b) shows a commonarrangement in which IPIB 110 does not own a web server 290 that hoststhe website of the IPIB (nor is the web server directly part of IPIBcomputer system 210), but merely has an agreement with a companyoperating the web server allowing that company to host the website onbehalf of the IPIB. In such an embodiment, IPIB computer system 210 isin communication with web server 290 (which can have its own web serverdatabase 292 and other computer elements, which are not shown) over anadditional communication link 280 (which can have any of the propertiesdiscussed above with respect to communication links 250, 260 and 270).The web server 290 forms a hub of communications between IPIB computersystem 210, and computer systems 220, 230 and 240 of IP owners 120, IPdesirers 130 and IP exchanges 140. Even in this embodiment, IPIBcomputer system 210 can be broadly thought of as encompassing web server290, since the website operated by the web server acts as an extensionof the operational capabilities of the IPIB computer system.

In the preferred, internet-oriented embodiment of the invention, IPowners 120 who are interested in licensing or selling IP to IPIB 110, aswell as IP desirers 130 who are interested in licensing or purchasing IPfrom the IPIB, contact the website of the IPIB through the use of theirrespective computer systems 220, 230. Information provided by IP owners120 and IP desirers 130 to IPIB computer system 210 via the website (andweb server) is processed and stored by the IPIB computer system (theinformation can in some embodiments also be processed and stored at webserver 290). Information provided to IPIB computer system 210 can bereviewed by employees of IPIB 110 via user interface 212. Informationcan also be provided by IPIB computer system 210 to computer systems220, 230 of IP owners and desirers 120, 130 via the website. Suchtransferred information can include offers and/or acceptances concerningthe execution of contractual arrangements. In certain embodiments inwhich computer systems 220, 230 of IP owners 120 or IP desirers 130 alsoprovided websites (or other similar interactive interfaces), IPIBcomputer system 210 is capable (at least in a certain mode of operation)of submitting information to or receiving information from suchwebsites, and/or is capable of allowing employees of IPIB 110 tointeract with such websites directly via user interface 212.

As discussed, IP exchanges 140 have developed at least partly as aresult of the development of the internet, and consequently aretypically internet-based systems that have websites of their own. Asshown in FIG. 2( a), computer system 240 of IP exchange 140 typicallywill have or operate in conjunction with a web server 249, which hostsor operates the website of the IP exchange. Computer systems 240 of IPexchanges 140 have large databases of information regarding patents andother IP that IP owners 120 are interested in selling or licensing.Sometimes, the computer systems also have databases of informationprovided by IP desirers 130 indicative of IP they are interested inpurchasing or licensing. Records of past activities of IP owners and IPdesirers 120, 130 that concern IP transfer may also be kept, althoughsome IP exchanges 140 maintain strict privacy policies maintaining theconfidentiality of their members. Parties accessing the websites of IPexchanges 140 (who may need password or other membership rights in orderto do so) are able to add information to the website (e.g., regarding IPthat they are interested in selling or licensing). Also, the parties areable to search through, browse, and retrieve existing information in thedatabases, and to place bids or otherwise initiate and concludetransactions involving the sale or licensing of IP (or at least toindicate an interest in doing so). Certain IP exchanges 140 offeradditional services to their members, e.g., patent invalidity insuranceor patent valuation services. The provision of, or at least agreement toprovide, such services can also be concluded via the websites of IPexchanges 140.

Preferably, IPIB computer system 210 is capable of interacting with suchhighly-developed internet (or other computer-based) systems of IPexchanges 140, in addition to the computer systems 220, 230 of IP ownersand IP desirers 120, 130. In one embodiment, an employee of IPIB 110interacts with a computer system 240 of an IP exchange 140 by loggingonto the website of computer system 240 via user interface 212 of IPIBcomputer system 210 (which is in communication with computer system 240through the use of a conventional browser program via communication link260). In a second embodiment, IPIB computer system 210 employsspecialized programming (or otherwise has special operatingcapabilities) that allows the IPIB computer system to seamlesslyinterface with the programming of computer system 240 of IP exchange140. Such programming eliminates the necessity of having employees ofIPIB 110 directly interface with the website (or other interactiveinterface) of IP exchanges 140, and can mitigate the complexityassociated with interfacing with the websites of different IP exchanges,which can vary significantly in their features and operation. Instead,the employees merely provide inputs or outputs at user interface 212that direct the operation of IPIB computer system 210, and it iscomputer system 210 that interfaces with the website (or other computerinterface) of IP exchange 140. Such specialized programming allowing forsuch coordinated operation of IPIB computer system 210 and computersystem 240 of IP exchange 140 would be most easily developed jointly bythe IP exchange in conjunction with IPIB 110. The specializedprogramming can, but need not, allow for coordination of the website ofIPIB 110 with the website of website of IP exchange 140; rather, theprogramming need only allow IPIB computer system 210 to communicate withIP exchange computer system 240, by way of the internet, websites, orotherwise.

Turning to FIG. 3, a flow chart 300 is provided showing steps ofoperation of IPIB computer system 210 in relation to computer systems220, 230 of IP owners 120 and IP desirers 130, respectively. The stepsshown are exemplary and are especially applicable with respect to thepreferred, internet-oriented embodiment of the IPIB computer system 210,although similar steps are readily applicable to other computer-based,or even non-computer based systems. Hereinafter, IPIB computer system210 will be understood to include a web server, or at least operation inconjunction with a web server such as web server 290, such that theoperation the website for IPIB computer system can be considered to bepart of the operation of the IPIB computer system.

Most commonly, IP owners 120 and IP desirers 130 will contact IPIB 110when they have IP that they are interested in selling, purchasing orlicensing (or otherwise transferring) by visiting the website of IPIBcomputer system 210 by way of a standard browser or similar program.Thus, in step 310, IPIB computer system 210 receives initial contactfrom a visitor (e.g., computer systems 220, 230) at the website. Uponreceiving this initial contact at the website, IPIB computer system 210provides initial descriptive information regarding IPIB 110 to thevisitor in step 315. Such information is provided because visitors tothe website can have little or no knowledge of the purpose or functionsof IPIB 110. In certain circumstances, steps 310 and 315 need not beperformed because, for example, the visitor is in constant contact withIPIB computer system 210 or does not require descriptive informationregarding IPIB 110.

Next, IPIB computer system 210 attempts to determine the identity andpurpose of the visitor. In step 320, IPIB computer system 210 obtainsidentification information from the visitor to the website. Variousinformation can be obtained in step 320. For example, identityinformation such as name or company name, address, email address andphone number can be obtained. Further (assuming that IPIB computersystem 210 is configured to receive visits from both IP owners 120 andIP desirers 130), it will be important to obtain information regardingwhether the visitor has IP that the visitor is interested in licensingor selling (e.g., identifying the visitor as an IP owner), or whetherthe visitor is interested in licensing or purchasing IP from the IPIB(e.g., identifying the visitor as an IP desirer). To obtain a variety oftypes of identification (and purpose) information from the visitor, IPIBcomputer system 210 can prompt the visitor with a series of questions,to which the visitor is requested to provide answers.

Alternatively, IPIB computer system 210 can provide an on-linequestionnaire with one or more fields for data entry from the visitor.Upon obtaining such identity information, IPIB computer system 210optionally can provide the visitor with a special identification (e.g.,a username and password) in step 325, which would simplify theidentification process during repeat visits (e.g., by allowing a simplelogin process). Thus, during repeat visits, the visitor could simplyenter the special identification in place of the usual identificationinformation (in such cases, step 325 would be skipped). In certain othercircumstances, no identification information is required from thevisitor (and both steps 320 and 325 are unnecessary), for example, whereIPIB computer system 210 maintains constant communication via a directlink with the visitor.

Once the visitor has been identified, in step 330 IPIB computer system210 obtains information regarding the nature of the IP the visitor wantsto sell, purchase or license. In the case where the visitor is an IPowner 120 (step 330(a)), IPIB computer system 210 obtains informationidentifying the IP that the IP owner is interested in licensing orselling—for example, in the case of a patent, the patent number, thefiling (or issue) date of the patent (e.g., time until expiration of thepatent), and/or the inventor can be specified, among other information.Additionally, in the preferred embodiment, IPIB computer system 210attempts to obtain more specific information summarizing or otherwiseindicating the nature of the technology covered by the IP, and thepotential products or markets that can be covered by the IP. That is,the nature of the IP refers to, for example, the identity, type, andtechnological/product/market scope of coverage of the IP assets that areavailable for transfer, although the nature of the IP is not necessarilylimited to these particular concepts.

The information concerning the nature of the IP can allow variousdeterminations to be made by IPIB 110 (either by an employee of the IPIBor automatically by IPIB computer system 210), such as determinationsregarding the potential value of the IP, and determinations as to whattype of transfer from IP owner 120 to the IPIB would be most appropriate(e.g., license or sale). In the case where the visitor is an IPIBdesirer 130 (step 330(b)), IPIB computer system 210 obtains informationregarding the type of IP asset and/or the type of technology that the IPdesirer is interested in purchasing or licensing. This information willalso allow various determinations to be made by IPIB 110, such asdeterminations regarding whether the IPIB owns or is currently licensingIP that covers this type of technology.

In performing step 330, IPIB computer system 210 preferably prompts thevisitor with a series of questions regarding the nature of the IPIB thatthe visitor wants to sell, purchase or license. Alternatively, otherforms of data entry are possible; for example, IPIB computer system 210can provide an on-line questionnaire with one or more fields for theentry of specific data by the visitor, or merely an “open space” inwhich the visitor can enter whatever information the visitor wants. IPIBcomputer system 210 can employ graphical user interfaces (GUIs), andalso can utilize data entry formats that are personalized for particularusers. Further, although obtaining such information via the website ofIPIB computer system 210 is the preferred method of operation, theinformation can also be communicated to the IPIB computer system byhaving IP owner 120 or IP desirer 130 mail in such information (orotherwise provide such information in another manner) and having anemployee of the IPIB input such information at user interface 212.Additionally, in certain circumstances, step 330 need not be performedat all. For example, step 330 need not be performed every time aparticular IP owner 120 or IP desirer 130 repeatedly logs into IPIBcomputer system 210, if the information has already been provided duringan earlier visit of the IP owner or IP desirer to the website. In suchcase, the visitor can simply check a box (or potentially need not doanything at all) indicating that previously-provided information fromthe visitor is still correct.

Upon receiving the information from IP owner 120 or IP desirer 130concerning the nature of the IP that the IP owner or IP desirer wish tosell, purchase or license, employee(s) of IPIB 110 (or IPIB computersystem 210 itself, automatically) usually makes determinations as to thevalue of the IP available from the IP owner or the availability of theIP desired by the IP desirer. In steps 335(a) and 335(b), respectively,IPIB computer system 210 processes the information received from IPowner 120 or IP desirer 130, respectively, to allow for suchdeterminations to be made. This processing can take a number of forms.For example, if information concerning transferable IP was provided froman IP owner 120, IPIB computer system 210 can perform a status check tomake sure that the IP asset (at least according to public databases suchas the U.S. Patent and Trademark Office databases or the database(s) ofthe IPIB) is indeed owned or otherwise assigned to the IP owner.

Also, IPIB computer system 210 can analyze product and/or marketinformation provided by IP owner 120 to facilitate financial valuationof the IP. Further, a comparison can be made of the technologies,products and markets identified by IP owner 120 as being implicated bythe IP, with information held in a database of IPIB 210 concerning theneeds of IP desirers 130 who have contacted the IPIB (or whose needs areotherwise known by the IPIB, by way of market studies, etc.). Ifinformation concerning desired IP was provided from an IP desirer 130,IPIB computer system 210 can compare the descriptions of the desired IPwith information in a database of IPIB 210 concerning the IP that isowned by or licensed to IPIB 110. Additionally, a comparison can be madeof the descriptions of the desired IP with descriptions ofpotentially-transferable IP provided by IP owners 120 who have contactedIPIB 110, or even with information listed on public or private databases(such as the U.S. Patent and Trademark Office databases). Assuming IPowners 120 can be identified who are in a position to provide desired IP(including the identification of IP owners by checking the assigneestatus of patents listed on databases such as the U.S. Patent andTrademark Office databases), such IP owners can be contacted (with thegoal of licensing or purchasing their IP).

The processing of step 335 can encompass, in particularly sophisticatedembodiments of IPIB computer system 330, processing which automaticallydetermines whether the IP available from an IP owner 120 is desirable,or whether the IP desired by an IP desirer 130 is available. Also, theprocessing of step 335 can encompass the providing of the informationfrom IP owners 120 or IP desirers 130 regarding the nature of theavailable IP or desired IP, respectively, to an employee of IPIB 110,who in turn analyzes and makes determinations based upon thatinformation. Additionally, the processing of step 335 can encompassstorage of the information in memory 216 (or another memory or database)of IPIB computer system 210 (to allow for later processing or other useof the information). Further, in alternate embodiments, the processingof step 335 is not performed, particularly if the information obtainedin step 330 from the visitor is directly provided to an employee of IPIB110 for analysis. In some cases, an IPIB 110 may have a policy ofpurchasing or at least licensing all IP available from IP owners 120, inwhich case processing used to allow the selection of desirable IP willbe unnecessary. Possible attributes of step 335 are further discussedbelow with respect to FIGS. 5( a) and 5(b).

Once it is determined by IPIB 110 that the IP available for transferfrom IP owner 120 is of interest to the IPIB, or that the IP desired byIP desirer 130 may be provided by the IPIB, IPIB computer system 210proceeds to step 340. (If it is determined that the IP available fortransfer from IP owner 120 is not of interest, or that the IP desired byIP desirer 130 cannot be provided, an indication is provided to the IPowner or IP desirer indicating that the IPIB is not interested inproceeding with a transaction at this time.) IPIB computer system 210obtains further information from IP owner 120 (in step 340(a)) or IPdesirer 130 (in step 340(b)) regarding the particular rights the IPowner or IP desirer is interested in transferring or receiving,respectively. In particular, IPIB computer system 210 obtainsinformation as to whether IP owner 120 desires to license the IP or tosell it outright, or whether IP desirer 120 desires to license (orsublicense) the IP or to purchase it outright. Further, in the casewhere IP owner 120 desires to license rather than sell the IP to IPIB110, IPIB computer system 210 obtains information regarding whether theIP owner prefers to grant an exclusive or a nonexclusive license. (Itwill only seldom be possible, or most profitable, for IPIB 110 to grantan exclusive license to a particular IP desirer 130.)

In performing step 340, IPIB computer system 210 can prompt the visitorwith a series of questions regarding the IP rights the visitor wants tosell, purchase or license. Alternatively, other forms of data entry arepossible; for example, IPIB computer system 210 can provide an on-linequestionnaire with one or more fields for the entry of specific data bythe visitor, or merely an “open space” in which the visitor can enterwhatever information the visitor wants. A variety of relevantinformation can be obtained in step 340, in addition to informationregarding whether the visitor is interested in licensing rather thanselling or purchasing IP (and, in the case where the visitor desires alicensing arrangement, information regarding whether the visitor desiresan exclusive or nonexclusive license). Of particular importance can beinformation regarding standard issues that are typically important invirtually any licensing agreements or assignment agreements (e.g.,agreements concerning the sale or purchase of IP). In the case where thevisitor desires a licensing arrangement, for example, the informationobtained by IPIB computer system 210 can include: the desired timeperiod and desired expiration date of any licensing arrangement; anydesired territorial restrictions on the license; any desiredrestrictions on sublicensing (including restrictions on sublicensing tocompetitors or certain companies); whether the license applies to allmanufacturing (making), using and selling of products covered by the IP;termination of the license arrangement; and the payment of royalties(including possible minimum royalties or variation in royalties as afunction of different factors).

In the case where the visitor desires to sell or purchase IP from IPIB110, the information obtained by IPIB computer system 210 couldpotentially include a proposed price for the IP being bought or sold.However, typically it would be IPIB 110 that would first propose a pricefor the IP to be sold or bought, based upon its more extensive knowledgeof the value of IP generally (or, in the case where the visitor was anIP desirer 130 desiring to purchase IP, based upon the amount the IPIBoriginally paid for the IP). Other types of information may also beobtained during step 340. In certain embodiments, information obtainedin step 340 can include a confirmation that an IP owner 120 has beenassigned the IP rights that the IP owner wishes to transfer. Further, insome circumstances, it will be understood that IP owner 120 is onlyinterested in transferring specific IP rights to IPIB 110 (for example,it can be assumed, under certain circumstances, that the IP owner isonly interested in selling the IP outright), or that IP desirer 130 isonly interested in receiving specific IP rights. If the conditions forsuch transfers are well understood or otherwise standardized (e.g.,because the conditions have been developed over time, in a course ofdealing between IPIB 130 and IP owner 120 or IP desirer 130), it canbecome unnecessary to perform step 340.

In the preferred embodiment of the invention, a visitor first providesinformation regarding the nature of the IP that is available or desiredfor transfer, which is then processed (steps 330 and 335). Only laterdoes the visitor then provide additional information regarding thespecific IP rights that are the visitor wishes to be transferred (andthe limitations on the IP rights that can be transferred), which is thenprocessed and used to generate a proposed agreement (steps 340 and 345).Distinguishing between information concerning the nature of the IPassets themselves and the specific (intellectual) property rights thatthe visitor is interested in having transferred is useful because it istypically the nature of the IP assets themselves (e.g., whether theasset is a patent, or only a patent application, or whether the patentcovers automobiles rather than merely engine valves) that determines theintrinsic value of the IP, both financially and in terms of whether IPIB110 can identify specific third parties who are interested in the IP.Once the intrinsic value of the IP is determined, this intrinsic valuecan be adjusted to account for the particular constraints limiting theownership or possession of the IP that are desired by the IP owner 120,IP desirer 130 or IPIB 110. While the preferred embodiment of theinvention does distinguish between information regarding the nature ofthe IP and information regarding the specific IP rights to betransferred, some alternate embodiments make no such distinction, forseveral reasons. In certain circumstances, for example, the relativeimportance of one of the types of information to the other types ofinformation is very low, and so all information can be obtained together(and then, if necessary, processed together). Also, it can be desirableto reduce the complexity of the website of IPIB 110 with which visitorsmust interact, and so it can be desirable to reduce the number of stepsfor inputting information to a single step (for all informationconcerning the IP) for that reason. Thus, all relevant information willbe obtained (and, if necessary, processed together).

Upon completion of step 340, IPIB 110 has sufficient information fromthe visitor (either IP owner 120 or IP desirer 130) to generate aproposed agreement or offer concerning the transfer of IP between thevisitor and the IPIB. Such a proposed agreement is generated in step345. Step 345 in most embodiments can be assumed to include a processingsubstep similar to step 335, with respect to the information obtained instep 340; such processing can also include further processing withrespect to the information obtained in step 330. The proposed agreementcan be generated by an employee of IPIB 110 (for example, an in-houseattorney of the IPIB) or automatically by IPIB computer system 210.Automatic generation of such an agreement by IPIB computer system 210would be particularly feasible if all information obtained from avisitor in steps 320, 330 and 340 was obtained from answers provided bythe visitor in response to prompting by the IPIB computer system.Assuming such prompted answers were properly provided by the visitor,IPIB computer system 210 could be programmed to generate a standard IPtransfer agreement, tailored to include the specific information (orrequests) of the visitor. If certain requests of the visitor wereconsidered objectionable or unacceptable, IPIB computer system 210 couldprovide a proposed agreement and, in addition, provide a list of theunacceptable conditions, which could include reasons as to why thoseconditions were unacceptable.

Standard agreements for the license or sale/purchase of IP can beobtained from many existing sources (e.g., in the case of licensingagreements, one can turn to Drafting Patent License Agreements, FourthEdition, by Brian G. Brunsvold and Dennis P. O'Reilley, The Bureau ofNational Affairs, Inc., 1998). Information regarding such agreements andtheir preparation could be stored in memory 216 of IP computer system210 (or another memory device). In the case of obtaining licenses fromIP owners 120, every agreement between IPIB 110 and such IP ownerstypically should include a clause giving the IPIB the right tosublicense to third parties, to give the IPIB the ability to sublicensethe IP to IP desirers 130 (which rights are typically not presumed toexist in the absence of affirmative statements in the licensingagreements). (In the case of virtually any license agreement, the selleror licensor should provide a warranty that it has the ability to sell orlicense the IP as specified under the agreement.) In certaincircumstances, agreements can be generated without the obtaining of anyspecific information regarding the specific intellectual property rightsto be transferred (e.g., information obtained in step 340), because thetransaction conditions are completely standard.

Next, in step 350, the proposed agreement concerning the transfer of IPbetween the visitor and IPIB 110 is provided to the visitor from IPIBcomputer system 210 (by sending the agreement to computer system 220 or230 depending upon whether the visitor is an IP owner 120 or an IPdesirer 130). Typically, the agreement provided to the visitor in step350 constitutes an offer that the visitor is able to accept or reject.Thus, in some cases, IPIB computer system 210 receives a response fromthe visitor indicating the visitor's acceptance of the agreement in step355, and an IP transfer arrangement (e.g., for the sale, licensing orpurchase of IP) is concluded. In other cases, IPIB computer system 210receives a response from the visitor indicating the visitor's objectionsto the proposed agreement, in step 360. The objections can be in theform of a complete rejection or a counteroffer. If the objections are inthe form of a counteroffer, IPIB computer system 210 can respond to theobjections with an acceptance, in step 365 (thus concluding a IPtransfer arrangement).

If the objections constitute an outright rejection, IPIB computer system210 can respond by generating a new proposed agreement and returns tostep 345. Likewise, if the objections are in the form of a counteroffer,IPIB computer system 210 can also return to step 345 to generate arevised proposed agreement. To the extent that standardized agreementsare employed, the revision of the IP transfer agreement in steps 360,345 and 350 can be almost entirely (if not entirely) automated. However,if special (e.g., non-standard) arrangements are demanded by the visitor(and received by IPIB computer system 210 in step 360) or are otherwisenecessary, an employee of IPIB 110 typically must generate (or at leastassist in generating, e.g., review) each proposed agreement before it isprovided to the visitor in step 350. It should be noted that, in certaincircumstances, objections can be minor. One embodiment of the programwould allow such objections to be presented (e.g., by checking a box) bya visitor even though the visitor basically accepted the proposedagreement. In such an embodiment, it would be possible for IPIB computersystem 210 to receive an acceptance response plus additional comments.(Similarly, in another embodiment, IPIB computer system 210 would beable to provide an acceptance, in response to the objections of thevisitor, along with minor comments to the visitor.)

Once an agreement has been reached between the visitor and IPIB 110,payment can be automatically made. In the case of an agreement betweenIPIB 110 and IP owner 120, a payment is made from the IPIB to the IPowner, in step 370(a). In the case of an agreement between IPIB 110 andIP desirer 130, a payment is received by the IPIB from the IP desirer,in step 370(b). Such payments can be made via the internet by way ofstandard credit card transactions (if the payments are small enough),particularly in the case of IP desirer 130 paying IPIB 110. In suchcase, payment includes the receiving of a credit card number (andrelated information) by IPIB 110 from IP desirer 130, and the debitingof the credit card (in the case where IPIB) 110 was using a credit cardto pay IP owner 120, IPIB would provide the IP owner with a credit cardnumber and related information). Commonly, the payments are toosubstantial to be handled using a credit card. In such case, informationsuch as a bank account number and/or routing number can be provided byIPIB 110 to IP desirer 130 or, in the case of a transfer of IP betweenIP owner 120 and the IPIB, such information is received by the IPIB.Payment in step 370 can include other payment methods known in the art.In the case where IPIB 110 is sublicensing IP that it has licensed fromIP owner 120, the IPIB often will not be required to make any royaltypayments until such time as an IPIB desirer 130 pays royalties. In suchcases, payment step 370 does not occur immediately or even soon afterthe conclusion of a licensing agreement between IP owner 120 and IPIB110. Further, many alternate payment methods are possible besideselectronic payment, and in some cases no payments will be made (e.g., agift of IP) making step 370 unnecessary.

Turning to FIG. 4, a flow chart 400 is provided showing steps ofoperation of IPIB computer system 210 in relation to computer systems240 of IP exchange 140. The steps shown are exemplary and are especiallyapplicable with respect to the preferred, internet-oriented embodimentof the IPIB computer system 210 (since present-day IP exchanges arepredominantly internet-based), although similar steps are readilyapplicable to other computer-based, or even non-computer based systems.At present, the different IP exchanges have websites that arecomplicated to use, and which vary substantially in their operation fromwebsite to website. Consequently, to interact with the websites of IPexchanges 140, it is necessary at present to have an employee of IPIB110 conduct (or at least monitor) the internet-based interfacing withthe websites of the IP exchanges. This is typically performed by havingthe employee log onto the websites via user interface 212 of IPIBcomputer system 210. In the future, as IP exchanges 140 become easier touse (and more standardized), IPIB computer system 210 will be able tointeract with the websites of IP exchanges 140 automatically. If specialsoftware is developed, IPIB computer system 210 will not need tointerface with the websites of IP exchanges 140, but rather willinterface with IP exchange computer systems 240 directly.

IPIB computer system 210 typically interacts with IP exchanges 140 in aneffort to find buyers or licensees (or sublicensees) for IP that waspurchased or licensed by IPIB 110 from IP owners 120, or in an effort topurchase or license IP from IP owners via the IP exchanges. In order forIPIB computer system 210 to interface with a given IP exchange 140, IPIB110 typically must have already registered as a member (e.g., must havealready purchased or otherwise obtained a “seat” on the IP exchange).Assuming that IPIB 110 has registered with IP exchange 140, IPIBcomputer system 210 initially contacts the IP exchange computer system240 in step 410 to begin interfacing with IP exchange 140 (typically,contact will be established by an employee of IPIB 110 by way of aninternet browser operating on the IPIB computer system). Upon contactingIP exchange computer system 240, IPIB computer system 210 providesidentification so that it can gain access to (e.g., login to) the IPexchange computer system, in step 415. Such identification can consistof a username and/or password (or similar identification information)provided to IPIB 110 during its registration on the IP exchange. Suchinitial contact or identification need not be established in certaincircumstances where IPIB 110 is constantly in communication with IPexchange 140.

Upon accessing IP exchange computer system 240, IPIB computer system 210typically has the right to post information onto the IP exchangecomputer system regarding IP owned, or IP rights possessed, by IPIB 110(which is typically added to a searchable database maintained by the IPexchange). Thus, if IPIB 110 has IP that it wishes to sell or license,IPIB computer system 210 submits information to IP exchange computersystem 240 in step 420(a). Also upon accessing IP exchange computersystem 240, IPIB 210 typically has the right to search throughinformation stored on the database(s) of IP exchange 140, which includesinformation regarding IP which is being offered, on the IP exchange, forsale or license by third parties (IP owners 120). Thus, if IPIB 110 islooking to obtain certain IP, IPIB computer system 210 obtains IPinformation in step 420(b). The obtaining of information by IPIBcomputer system 210 in step 420(b) can include three substeps. First,the IPIB computer system 210 sends search requests concerning theattributes of desired IP to IP exchange computer system 240. Next, IPIBcomputer system 210 receives search results from IP exchange computersystem 240. Third, IPIB computer system 210 processes the search resultsto determine if desired IP has been found to be up for sale or licenseon IP exchange 140. If not, IPIB computer system 210 can return to thefirst substep to send new or modified search requests (or the IPIBcomputer system can conclude that no desired IP is available on IPexchange 140).

The information submitted by IPIB computer system 210 in step 420 atypically includes descriptive information regarding the nature of theIP that IPIB 110 has available to be sold, licensed (or otherwisetransferred). Likewise, the information obtained by IPIB computer system210 in step 420 b typically includes descriptive information regardingthe nature of the IP that is available on IP exchange 140. As withrespect to step 330 (of FIG. 3), the descriptive information can rangefrom specific identification information (e.g., patent number or title)to more explanatory information (e.g., a summary of the technologycovered by the IP). However, the submitted and obtained information canalso include information regarding the particular IP rights that are orhave been placed up for transfer on IP exchange 140 (as with respect tostep 340 of FIG. 3). Thus, step 420(a) can be separated into twosubsteps concerning submissions of each of these types of information.Likewise, step 420(b) can be separated into obtaining informationregarding certain IP assets that are available on IP exchange 140, andobtaining refined information regarding the actual IP rights that areavailable on the IP exchange. In the case where step 420(b) includes thethree substeps described above, these three substeps can be iterativelyperformed with respect to obtaining each type of information.Alternately, searches can be performed to identify certain types of IPassets, and then the search results can be processed to eliminate (e.g.,sort out) identified IP that lacks desired characteristics in terms ofthe actual rights that are available.

In one embodiment of the invention, IPIB computer system 210 in step420(a) submits information to IP exchange computer system 240 that hasbeen entered by an employee of IPIB 110 into the IPIB computer system(e.g., entering information in fields provided in the website of IPexchange 140 as viewed at user interface 212 of the IPIB computersystem). In such cases, the employee has made judgments as to the mostimportant descriptive information relating to the IP, and the mostappropriate manner of providing the information to IP exchange 140.Likewise, in the case where IPIB computer system 210 is obtaininginformation from IP exchange computer system 240 in step 420(b), theinformation is typically obtained as a result of searches that areconducted by an employee of IPIB 110, who is interacting with the searchinterface portion of the website of IP exchange 140 as viewed at userinterface 212 of IPIB computer system 110. Additionally, the employeetypically analyzes (e.g., processes) the received information in step420(b) to determine whether desired IP has been identified. However, inanother embodiment of the invention, IPIB computer system 240 hassufficient information and expertise (e.g., using expert systems-typecapabilities) for automatically generating appropriate submissions to,and/or for automatically obtaining information (by performing searchesand processing search results) from, IP exchange computer system 140,without the direct supervision or control of an employee of IPIB 110.

After submitting information regarding IP that is available for sale orlicense to IP exchange computer system 240, IPIB computer system 210eventually receives from the IP exchange computer system informationregarding bids placed with respect to that IP (assuming that otherparties to IP exchange 140 identify that IP as being of interest), instep 425 a. Conversely, if IP listed on IP exchange 140 is identified byIPIB computer system 210 as being of interest (for purchase or licenseby the IPIB), the IPIB computer system can provide one or more bids forthat IP to the IP exchange, in step 425 b. Depending upon the operationof IP exchange 140 and the IP being transferred, bids that are receivedfrom or provided to IP exchange 140 can range in form from afull-fledged proposed agreement regarding the transfer of IP to merely aprice for the IP (or a proposed royalty rate in a licensing situation).To determine an appropriate bid to be provided in step 425(b), typicallyan employee of IPIB 110 will determine the bid based upon theinformation obtained in step 420(b) and then enter the bid parameters atuser interface 212 of IPIB computer system 210, which is in contact withthe website of IP exchange computer system 240. In certaincircumstances, determining the appropriate bid can also be astandardized task performable by IPIB computer system 210 without thedirect input of an employee of IPIB 110 (e.g., if IP exchange 110suggests a bid or provides a valuation of the IP). Insofar as some IPexchanges 140 provide suggested, standardized agreement forms forstructuring the transfer of IP, the facility with which IPIB computersystem 210 can automatically provide bids increases.

The bids that are either received by IPIB computer system 210 in step425(a) or provided by IPIB computer system 210 in step 425(b) can beconsidered offers. Thus, upon receiving a bid in step 425(a), IPIBcomputer system 210 can respond to the bid by providing an acceptance toIP exchange computer program 240, in step 430. Likewise, IPIB computersystem 210 in step 440 can receive an acceptance from IP exchangecomputer system 240 (relayed from the third party IP owner 120 of the IPsubject to transfer). As with respect to the operation of IPIB computersystem 210 in step 425(b), the determination of whether to accept a bidin step 430 is typically made by an employee of IPIB 110, although insome circumstances it is possible for the determinations to beautomatically made by IPIB computer system 210. To the extent that bids(e.g., the agreement forms) are standardized (and simple), it becomesincreasingly possible for IPIB computer system 210 to provide animmediate acceptance to the bids (e.g., offers), either by having anemployee of IPIB 110 quickly scan the received bid and respond bysending an acceptance, or by having IPIB computer system 210automatically respond to the received bid.

Upon acceptance of a bid, an agreement for IP transfer is concluded.However, initial bids often are not accepted. In the case where IPIBcomputer system 210 receives a bid that is determined to beunacceptable, the IPIB computer system can respond by providingobjections back to IP exchange computer system 240, in step 435.Typically, an employee of IPIB 110 determines whether a bid isunacceptable and how to respond, although in some circumstances IPIBcomputer system 210 is able to automatically make such determinations.Likewise, if an IP owner 120 or IP desirer 130 determines that a bidprovided by IPIB computer system 210 in step 425(b) is unacceptable,IPIB computer system 210 can receive objections from IP exchangecomputer system 240 (which originate from the IP owner or IP desirer),in step 445.

The objections provided or received in steps 435, 445 can be in the formof counteroffers or outright rejections. If the objection provided instep 435 is a counteroffer, IPIB computer system 210 can receive anacceptance in response from IP exchange computer system 240, in step 440(assuming that IP owner 120 or IP desirer 130 finds the counteroffer tobe adequate). Similarly, if the objections received by IPIB computersystem 210 in step 445 form an acceptable counteroffer (to IPIB 110, asdetermined by an employee or, in certain situations, by the IPIBcomputer system automatically), the IPIB computer system can respond byproviding an acceptance, in step 430. However, if the objection providedin step 435 by IPIB computer system 210 is an outright rejection or anunacceptable counteroffer, IP owner 120 or IP desirer 130 can change thebid such that the IPIB computer system receives a new bid at step 425.Likewise, if the objections received by IPIB computer system 210 are inthe form of a counteroffer or an outright rejection, the IPIB computersystem can respond by providing a new bid to IP exchange computer system240 to be relayed to the third party (IP owner 120 or IP desirer 130).This new bid would again be determined either by an employee of IPIB 110or automatically by IPIB computer system 210. It should be noted that,as with respect to step 360 of flow chart 300, it is possible thatobjections provided or received in response to a bid can be minor. Thus,in certain embodiments, IPIB computer system 210 is capable of providingan acceptance (e.g., in step 430) along with minor objections, and ofreceiving an acceptance (e.g., in step 440) along with minor objections.

If a bid is accepted in step 430 or an acceptance is received in step440, an agreement for IP transfer over IP exchange 140 has beenconcluded. Thus, in the case where IPIB 110 is transferring IP to an IPdesirer 130, IPIB 110 receives payment, in step 450(a). In the casewhere an IP owner 120 is transferring IP to IPIB 110, the IPIB mustprovide payment, in step 450(b). As with respect to step 370 of FIG. 3,it is not necessarily the case that payment must be made immediatelyupon the conclusion of an IP transfer agreement. Some IP exchanges 140,however, can have strict requirements as to payment following theconcluding of agreements. This is particularly the case since many IPexchanges 140 obtain a commission or other fee upon the conclusion ofsuch agreements. Thus, in step 450(a), IPIB computer system 210 canreceive electronic payment (after providing a bank account, or routingnumber, to IP exchange computer system 240, or receiving a credit cardnumber from the IP exchange computer system, etc.) or payment in someother fashion. Further, in step 450(b), IPIB computer system 210 canprovide payment, which can include providing information for electronictransfer to the IP exchange computer system 240 (which can then providethe information to IP owner 120), and paying both the IP owner from whomIPIB 110 is obtaining IP and IP exchange 140.

Referring to FIG. 5, flow charts 501-503 are provided in FIGS. 5(a)-5(c), respectively. Flow charts 501-503 show additional exemplarysteps of IPIB computer system 210 in relation to computer systems 220,230 and 240 of IP owners 120, IP desirers 130 and IP exchanges 140. Inparticular, flow charts 501-503 indicate that steps of flow charts 300,400 of FIGS. 3-4 can be combined into a single method of operation of aIPIB computer system 210 that interacts with all of IP owners 120, IPdesirers 130 and IP exchanges 140 simultaneously, in rapid succession,or in a completely automatic manner. Indeed, in a preferred embodimentof the invention, IPIB computer system 210 is capable of automaticallyinteracting with computer systems 220, 230 and 240 of IP owners 120, IPdesirers 130 and IP exchanges 140 and conducting IP transfer (includingthe communication of necessary information and the initiation andconcluding of transactions involving the licensing, sale and purchase ofIP) between IPIB 110 and each of the IP owners, IP desirers and IPexchanges.

Flow chart 501 of FIG. 5( a) shows several substeps that, in certainembodiments of the present invention, can be included within step 335(a)of FIG. 3. As discussed, step 335(a) concerns the processing ofinformation from IP owner 120 regarding the nature of IP that isavailable for transfer. In step 510 of flow chart 501, IPIB computersystem 210 checks the status of the IP that is identified in theinformation from IP owner 120 (e.g., possibly the validity status of apatent, the assignment status, etc.) to confirm that the IP is sound.Performing this status check can require consulting one or moredatabase(s) or other information sources, including database(s) that areand are not part of IPIB computer system 210. Next, in step 515, amarket analysis of the IP is conducted, e.g., an analysis of the marketsfor products that are covered by the IP. Such an analysis can requirecareful scrutiny of the scope of the IP, and again can requireconsulting multiple database(s) and also the expertise of individualsboth inside and outside IPIB 110. Further, in step 520, a databasewithin IPIB computer system 210 (e.g., part of memory 216) is checked todetermine whether any IP desirers 130 have inquired, in the (recent)past, about the type of IP currently being identified by IP owner 120.All of this information can be of use to IPIB computer system 210 (andany employees of IPIB 110 who are directing the IPIB computer system) indetermining the value of the IP available for transfer from IP owner 130in step 525. If the IP is determined to have sufficient value, IPIBcomputer system 210 proceeds to step 340(a) of flow chart 300; however,if the IP is determined to have insufficient value, IPIB computer system210 provides an indication to IP owner 120 that IPIB 110 does not (atthis time) have an interested in buying or licensing this IP.

Flow chart 502 of FIG. 5( b) shows several substeps that, in certainembodiments of the present invention, can be included within step 335(b)of FIG. 3. As discussed, step 335(b) concerns the processing ofinformation from IP desirer 130 regarding the nature of IP that the IPdesirer wishes to obtain from IPIB 110. As shown, IPIB computer system210 begins the processing by checking a database (e.g., within memory216 of the IPIB computer system) of all IP held by IPIB 110 for IP thatmeets the specifications from IP desirer 130 (provided to the IPIBcomputer system in step 330(b)). If it is determined that IPIB 110 ownsor has license rights to IPIB that meets the specifications of IPdesirer 130, IPIB computer system 210 proceeds directly to step 560, andtherefore proceeds directly to step 340(b) of FIG. 3 (since IPIB 110 hasappropriate IP to satisfy the needs of the IP desirer). If no relevantIP is found in step 540, flow chart 502 proceeds to step 545, in which adatabase of IPIB computer system 210 (e.g., again typically withinmemory 216 of the IPIB computer system) is checked to determine if IPowners 120 have inquired about transferring to IPIB 110 the IP currentlydesired by IP desirer 130.

If such an inquiry was made (but IPIB 110 did not end up purchasing orlicensing the IP in response to the inquiry), IPIB computer system 210contacts IP owner 120 who had made the inquiry, in step 550. Suchcontact can be made by sending an email message to IP owner 120, or byway of other forms of communication (including non-electronic forms ofcommunication). In some circumstances, IPIB 110 will (upon makingcontact with IP owner 120) be able to obtain the desired IP, possibly byway of the steps in flow chart 300. If the desired IP is obtained, IPIBcomputer system 210 proceeds also to step 560, to proceed with the saleor licensing of the newly-obtained IP to IP desirer 130 (in step 340(b)of FIG. 3). However, if it is determined in step 545 that an inquiryregarding the desired IP was not obtained, or if it is not possible toobtain the desired IP in step 550, then IPIB computer system 210proceeds to step 555, in which the IPIB computer system checks with IPexchange computer system 240 to determine if the desired IP is availableon IP exchange 140. To perform step 555, IPIB computer system 210performs the steps of flow chart 400 (including step 420(b)). If thedesired IP is then obtained by IPIB 110 via IP exchange 140, IPIBcomputer system 210 again proceeds to step 560, to proceed with the saleor licensing of the newly-obtained IP to IP desirer 130. However, if thedesired IP is not obtained by IPIB 110 via IP exchange 140, then IPIBcomputer system 210 in step 565 provides an indication to IP desirer 130that IPIB 110 does not have available the desired IP.

Flow chart 503 shows several steps that, in certain embodiments of thepresent invention, can follow (or be added to) the steps of flow chart300. Once new IP is purchased or licensed by IPIB 110, informationregarding the IP is stored within memory 216 of IPIB computer system210, in step 570. The information can be generated by IPIB computersystem 210, or can come from outside sources or even include theinformation obtained from IP owner 120, for example information obtainedin step 330(b) of flow chart 300. (Other information can also be storedin IPIB computer system 210. For example, as IP owners 120 and IPdesirers 130 contact and interact with IPIB computer system 210,information can be stored regarding the IP owners and IP desirers andtheir actions as well; such information can be utilized in variousoperations of IPIB computer system 210, such as that of step 545 of flowchart 502.) IPIB computer system 210 can utilize the information storedin step 570 in a variety of ways. For example, the information can beprocessed and submitted to IP exchange computer systems 240 (in step420(a) of flow chart 400) as being representative of the nature of theIP of IPIB 110, in step 575. The processing of step 575 can be veryminimal, e.g., merely to ensure that the information being provided toIP exchange computer system 240 conforms to the formats required by theIP exchange computer system.

Also, the information recorded in step 570 can be used for marketingpurposes. For example, the information can be processed and added (atleast in part) to the descriptive information provided to visitors tothe website of IPIB 110 in step 315 of flow chart 300 (in step 580).Such information can also be sent to IP desirers 130, by email, otherelectronic communication, or otherwise. In step 585, a database (alsowithin memory 216 of IPIB computer system 210) can be checked toidentify IP desirers 130 who have already made inquiries regarding thetype of IP that has just been acquired by IPIB 110. If there are such IPdesirers 130, in step 590 IPIB 110 contacts them (again by email orother mode of communication), and then proceeds to work out a transferagreement with the IP desirers assuming the IP desirers still desire theIP. Further, the recorded information can, in alternate embodiments, beaccessed by IP desirers 130 themselves; in such embodiments, IPIBcomputer system 210 is capable of receiving search requests from the IPdesirers allowing them to search for themselves the database of IP heldby IPIB 110. In yet an additional embodiment, IP owners 120 are alsoable to access the database(s) of IPIB computer system 210 to determinewhether there is a market for their IP, as indicated by the number ofrelated inquiries from IP desirers 130 or other information. (Suchembodiments in which IP owners 120 or IP desirers 130 have access todatabase(s) of IPIB computer system 210 are not preferred, however,since it can be advantageous to IPIB 110 to keep the exact extent of itsIP as well as the identities of actual and potential customers asprivate as possible.)

Turning to FIGS. 6( a)-(f), exemplary web pages are shown that can beaccessed and downloaded by the computer systems 220 and 230 of IP owners120 and IP desirers 130, respectively, from the IPIB computer system 210(and/or the web server 290) via the internet in order to facilitate thetransfer of IP. Representatives of the IP owners 120 or IP desirers 130interact with the IPIB computer system 210 by selecting items from,providing information onto, or otherwise interacting with the web pagesby way of their respective computer systems 220, 230. In particularlyautomated embodiments, some or all of the actions taken for interactingwith the web pages can be automatically performed by the computersystems 220, 230, without effort on the part of human beings. It shouldbe understood that, in the description that follows, the interactionsdescribed are meant to include interactions performed either by humanrepresentatives of the IP owners, IP desirers, and IPIB 110 through theuse of their respective computer systems 220, 230 and 210, or by thecomputer systems themselves operating in an automatic mode of operation.

With respect to FIG. 6( a), a first web page 600 that may be accessed byan IP owner's computer system 220 or an IP desirer's computer system 230is accessed when the respective computer system of the IP owner ordesirer first accesses the website of the IPIB computer system 210. Thefirst web page 600 displays information 602 that identifies the IPIB110. Further, the information 602 in some embodiments provides generalinformation regarding the nature and purpose of the IPIB 110 (notshown). The first web page 600 further provides a new user indicationitem 604 at which a new user of the system (e.g., an IP owner or desirerhaving no previous relationship with the IPIB) can indicate that it is anew user by taking an action, such as typing an “X” into a box or merelyselecting (e.g., by double-clicking with a mouse on) the indicationitem. The first web page 600 additionally provides a login block 606having one or more specification items 608 in which an IP owner 120 orIP desirer 130 that has an existing relationship with the IPIB 110 canprovide identification information or otherwise identify itself. In apreferred embodiment, the specification items 608 are fields at whichthe IP owner 120 or IP desirer 130 can input a username and a passwordthat were previously determined during the existing relationship betweenthe IP owner/desirer and the IPIB 110.

In the case where the IP owner 120 or IP desirer 130 is a new user andhas indicated that fact by way of the new user indication item 604, asecond web page 610 is accessed as shown in FIG. 6( b). The second webpage 610 includes several fields 612 into which the new user can enteridentifying information such as its name (or corporate name), mailing orbusiness address, email address, telephone number, fax number, and avariety of other types of information (e.g., contact person). Dependingupon the embodiment, this information will vary and the manner in whichthe information can be specified can also vary. For example, instead oftyping various information into the fields, information can be specifiedby selecting options from a scroll-down menu. In addition to fields 612,the second web page 610 additionally has at least two identificationitems 614 at which the new user is given an opportunity to specifywhether it is an IP desirer or an IP owner, that is, whether the newuser wishes in particular to purchase/license IP from the IPIB 110 or tosell/license IP to the IPIB. Again, this information can be specified inany of a number of ways, including selecting the appropriate choice byway of a mouse. In certain embodiments, it is possible for a new user tospecify that it is potentially both an IP desirer 130 and an IP owner120. Once this information is specified, the new user can indicate thatit has provided all the relevant information by selecting a submitinformation button 616, at which point the entered information istransferred via the internet to the IPIB computer system 210 (or webserver 290).

Once the new user has submitted all necessary identificationinformation, the IPIB computer system 210 typically will respond byproviding the new user with identification codes (e.g., username andpassword) for future access as an existing user. The IPIB computersystem 210 can also respond with additional information regarding IPdesired by the IPIB 110 or IP available from the IPIB 110, respectively,in the cases where the new user is an IP owner 120 or an IP desirer 130,or with other types of information that is pertinent to the new user. Itshould be noted that, with respect to FIG. 6( a), depending upon theembodiment, the identification information that is specified by anexisting user in specification items 608 of the first web page 600indicates whether the user is an IP owner 120 or an IP desirer 130. Thatis, in certain embodiments where the identification information providedinto specification items 608 merely is indicative of a party that has anexisting relationship with the IPIB 110, an intermediary web page orother selection item appears following the entry of the identificationinformation so that the party can specify which type of transaction itis interested in concluding at this particular time. Again, uponidentification by the IPIB computer system 210 of whether the user is anIP owner 120 or an IP desirer 130, special information may be sent bythe IPIB computer to the respective computer system 220, 230 for displayto the user.

Turning to FIG. 6( c), a third web page 620 is shown that is downloadedby the computer system 220 of an IP owner 120 once the IP owner 120 hasbeen identified to be an IP owner to the IPIB computer system 210. Thisweb page 620 is meant to be exemplary of the type of web page that isprovided to an IP owner 120 at which the IP owner has an opportunity toidentify the IP assets that it owns or has rights to and which it isinterested in selling, licensing or otherwise transferring to the IPIB110. An analogous web page (not shown) could be provided to an IPdesirer 130 at which the IP desirer would have an opportunity toidentify the IP assets that it desires to purchase, license or otherwiseobtain from the IPIB 110. As shown in FIG. 6( c), the web page 620includes several fields 622 at which the IP owner 120 providesinformation that specifies with particularity the IP assets that it hasavailable for transfer. In the case where the IP to be transferred isunderstood to only include patents, the fields 622 include (as shown)fields for the entry of patent numbers, issue dates, inventors andpotentially other information (e.g., filing dates) for the patents ofthe IP owner 120 that are available for transfer. Depending upon thenature of the patents (e.g., whether the patents are United Statespatents or foreign patents), the fields 622 can allow for the input ofdifferent types of information.

A second set of fields 624 is provided in which the IP owner 120 alsoprovides general information regarding the subject matter of the IPassets for transfer. In the example shown, which is configured toreceive information regarding patent assets, the fields 624 allow forinput of information concerning the technological area of the patents,the products that can employ the technology in the patents, and adescription of the general market for those products. Depending upon theembodiment and type of IP assets available for transfer (e.g., patents,trademarks, copyrights, trade secrets, etc.), the information obtainedvia fields 622 and 624 will vary in type and amount. In certainalternate embodiments, the IP owner 120 also is required to confirm thatit is the sole assignee of the IP to be transferred or, if it is not thesole assignee, to provide information concerning its exact rights in theIP (e.g., to indicate that it is sole inventor of a patent available fortransfer and that the patent was never assigned, or to indicate that isa joint inventor). Upon the providing of the relevant information intothe fields 622 and 624, the user can submit the information so that itis transferred to the IPIB computer system 210 (or the web server 290)by selecting a submit button 626. The submission of the informationentered into web page 620 corresponds to step 330(a) as discussed above,while the submission of the information provided into the web page 610corresponds to step 320 as discussed above. Further, upon submission ofthe information by way of the submit button 626, the IPIB computersystem 210 processes that information, as discussed above with respectto step 335(a) and FIGS. 3 and 5.

Upon completion of the processing (assuming the IP available from the IPowner 120 is still considered to be of interest to the IPIB 110), anadditional fourth web page 630 appears at the computer system 220 of theIP owner 120, as shown in FIG. 6( d). At the fourth web page 630, the IPowner 120 can submit additional information specifying the rights orinterests in the IP assets that the IP owner 120 is able or willing totransfer. As shown in FIG. 6( d), the fourth web page 630 includes aplurality of selection items 632 at which the IP owner 120 can specifythe rights in its IP assets that it desires to transfer. For example,the IP owner 120 can specify whether the IP owner wishes to only licenseits IP or to sell it outright to the IPIB 110. Further for example,where the IP is to be licensed, the IP owner 120 can specify whether itwishes the license to be exclusive or non-exclusive, the timeperiod/expiration date of the license, any territorial restrictionsregarding the license, any sublicensing restrictions, and a desiredroyalty rate. Additionally, the IP owner 120 can specify whether thelicense is restricted to particular usage or product/market limitations,or whether the license (or sale) applies only to particular claims ofthe patent. Where the IP is to be sold outright, the IP owner 120 canspecify a desired sale price. Once all of the relevant information isspecified, the IP owner 120 submits the information to the IPIB computersystem 210 by selecting a submit button 634. In the case where the useris an IP desirer, a web page that is analogous to the fourth web page630 can be provided, at which the IP desirer 130 can provide informationspecifying the exact rights that the IP desirer is interested inobtaining in relation to IP held by the IPIB 110.

Upon submission of the information entered at the fourth web page 630,the IPIB computer system 210 obtains the information regarding thespecific IP rights that are available for transfer, and then generates aproposed agreement between the IPIB 110 and the IP owner 120, inaccordance with steps 340(a) and 345 discussed above. The IPIB computersystem 110 then provides the proposed agreement, by way of the internet,for display on the computer system 220 of the IP owner 120 as a fifthweb page 640. In one embodiment, as shown in FIG. 6( e), the fifth webpage 640 displays the proposed agreement in a first region 642 andprovides comment fields alongside the proposed agreement in a secondregion 644, into which the IP owner 120 can provide suggested amendmentsor other comments to the agreement. Individual comment fields of thesecond region 644 are preferably located alongside respective provisionsof the agreement. In an alternate embodiment, the IP owner 120 can enterproposed changes immediately into the text of the agreement by way of anediting program. In such an embodiment, the second region 644 can beeliminated or, instead, provide an immediate comparison version showingnew modifications to the agreement by the IP owner 120 with respect tothe earlier version provided by the IPIB computer system 210.

The fifth web page 640 further includes one or more selection items 646at which the IP owner 120 can indicate whether it accepts the agreementin its present form, whether it rejects the agreement in its presentform, or whether it is proposing a counteroffer in the form of theagreement as amended by the IP owner (or an entirely new agreement thatcan be downloaded by the IP owner). Upon the selection of one of theseitems (e.g., by double-clicking on the respective item with a mouse),the information provided by the IP owner 120 via the fifth web page 640is provided back to the IPIB computer system 210. In certainembodiments, the computer system 220 will require that the IP owner 120confirm its selection by way of the selection items 646, in order toguarantee that the IP owner 120 has not unintentionally made a mistakein accepting or rejecting a proposed agreement, before the informationis submitted to the IPIB computer system 210. Depending upon whether theIP owner 120 has indicated an acceptance, rejection or counteroffer ofthe proposed agreement, the response of the IPIB computer system 210 tothe submission of information from the fifth web page 640 will vary. Ifthe IP owner 120 has rejected the proposed agreement, the IPIB computersystem 210 can respond with a new proposed agreement, with an indicationthere cannot be any agreement at this time, or with some other type ofmessage. If the IP owner 120 has submitted a counteroffer together withan amended version of the originally-proposed agreement, the IPIBcomputer 210 can respond with an acceptance or with a new proposedagreement, among other responses.

Assuming that the IP owner 120 has accepted the originally-proposedagreement, a sixth web page 650 is transmitted by the IPIB computersystem 210 (or the web server 290) to the computer system 220 of the IPowner, as shown in FIG. 6( f). The sixth web page 650 can provide aconfirmation indication 652 that an agreement has been reached, and alsocan provide follow-up information. In the case where IP has actuallybeen sold by the IP owner 120 to the IPIB 120, the sixth web page 650provides a confirmation of an amount of money that has been transferredto a specified bank account of the IP owner as consideration for thetransferred IP. In the case where IP is being licensed to the IPIB 120,the sixth web page 650 can include a bank account field 652 in which theIP owner 120 can specify a desired bank account number (e.g., a routingnumber) to which payments should be made to the IP owner 120 inaccordance with the agreement. In alternate embodiments, all suchpayment information is set forth in the agreement when it is beingdetermined by way of the fifth web page 640.

While only a few exemplary embodiments of this invention have beendiscussed above, persons skilled in the art will recognize that manychanges, substitutions and modifications (including omissions) arepossible in these embodiments without materially departing from thenovel features and advantages of this invention. It should be clear fromthe above discussion that the invention can be embodied in a widevariety systems, including systems using a wide variety ofcomputer-related technologies (including internet-related technologies)and other systems. It should be clear from the above discussion that thestructure of the invention can take on a number of forms, and is notlimited to the specific computer system structures shown herein ascorresponding to the IPIB computer system. Any software employed in theinvention can take on a variety of forms, and the website of theinternet embodiment of the invention can provide and receive inputinformation in a variety of formats (and use a variety of differentscreens and operate in conjunction with a variety of different datastructures). The exact structure, design and operation of the inventioncan vary so long as the invention continues to accomplish the samefunctions. Indeed, the present invention is meant to include thebusiness methods of an IP investment bank as disclosed herein,independent of any particular structure (or without any particularstructure), to the extent permitted by law.

It should be clear that the invention is capable of facilitating thetransfer of a variety of types of IP (including patents, as well asincipient patent rights such as patent applications, trade secrets, andother IP such as trademarks or copyrights). Further, it should beevident from the discussion that, while the steps in FIGS. 3, 4 and5(a)-5(c) are disclosed, there are circumstances under which each orseveral (or even most) of the steps are not necessary for properoperation of the system. Indeed, the invention is meant to include allsystems that facilitate IP transfer by way of selling, purchasing orlicensing (or otherwise transferring) IP, including systems that aremissing steps disclosed herein, or systems that perform the steps in areversed or otherwise changed order. The invention is further meant toinclude combinations of the steps disclosed herein (or simultaneous orinterrelated performance of those steps with respect to multipleparties).

Additionally, the invention is meant to include systems that performsome of the steps disclosed herein automatically (e.g., by way of acomputer) and yet require the assistance or input of human beings toperform some of the other steps. The invention also envisions systemsthat pertain to other areas beyond that of IP transfer. For example, theinvention envisions more general systems that automatically perform most(if not all) operations related to contract-formation, such as obtainingcontract specifications, preferences and limitations, generating andproviding proposed agreements, and evaluating, accepting, objecting to(or rejecting), and modifying such agreements, whether the agreementsconcern the transfer of intellectual property or other contractualarrangements (e.g., real property transactions). Accordingly, all suchchanges, substitutions and modifications (including omissions) areintended to be included within the scope of the invention as defined inthe following claims. Other changes, substitutions, and modifications(including omissions) can be made in the design, operation (andoperating conditions) and arrangement of preferred and other embodimentswithout departing from the spirit of the invention as expressed in thefollowing claims.

1. A method of facilitating an overall transfer of at least one propertyinterest in a patent asset between first and second parties by way ofthe web, the method comprising: (a) providing an interface by way of acomputer system of an intermediary by which at least one of the firstand second parties communicates with the intermediary; (b) receivingidentification information from at least one of the first and secondparties; (c) obtaining first information concerning the patent asset,wherein the first information includes at least one of a numberidentifying the patent asset, a filing date, an issue date, expirationinformation, descriptive information concerning a technical subjectmatter of the patent asset, product information regarding a product thatis within a scope of the patent asset, and market information regardinga market to which the patent asset pertains; (d) verifying at least oneaspect of property rights of the first party in the patent asset; (e)performing at least one evaluation, wherein the evaluation relates to atleast one of a financial value of the patent asset, a technologicalscope of the patent asset, a product coverage of the patent asset, amarket for products covered by the patent asset, and whether there hasbeen at least one past inquiry concerning the patent asset; (f)negotiating conditions for transfer of at least some of the firstparty's property rights; (g) transferring the at least some of the firstparty's property rights to the intermediary based on an agreementresulting from the negotiating of (f), whereby the at least some of thefirst party's property rights become property rights of theintermediary; (h) negotiating conditions for transfer of at least someof the intermediary's property rights; and (i) transferring the at leastsome of the intermediary's property rights to the second party based onan agreement resulting from the negotiating of (h).
 2. The method ofclaim 1, wherein each of the first and second parties is a corporateentity, and wherein the patent asset includes at least one of a patentand a pending patent application.
 3. The method of claim 1, wherein theat least one aspect that is verified in (d) is selected from the groupconsisting of an ownership status and a validity status of the patentasset.
 4. The method of claim 1, wherein the conditions for transfer in(f) include at least one of a price, a royalty rate, another paymentindication, and a condition identifying which of the first party'sproperty rights are to be transferred, and wherein the conditions fortransfer in (h) include at least one of a price, a royalty rate, anotherpayment indication, and a condition identifying which of theintermediary's property rights are to be transferred.
 5. The method ofclaim 4, wherein the at least some of the first party's property rightsthat are transferred include at least one of a full assignment and afirst license, and wherein the at least some of the intermediary'sproperty rights that are transferred include at least one of a fullassignment, the first license and a second license, and wherein eachassignment and license includes a respective set of associated propertyrights.
 6. The method of claim 5, wherein each license is selected fromthe group consisting of an exclusive license, a nonexclusive license, alicense of limited duration in time, a license that is limited to ageographical region, a license in which there are limitations onsublicensing, a license in which sublicensing is authorized, asublicense, and a license including a field of use restriction.
 7. Themethod of claim 1, further comprising at least one of: prior to (f),obtaining additional information regarding an extent of the firstparty's patent rights that the first party is interested in transferringto the intermediary; and, prior to (h), obtaining further informationregarding an extent of the intermediary's patent rights that the secondparty is interested in having transferred from the intermediary.
 8. Themethod of claim 1, wherein the interface includes at least one field forreceiving input information, wherein at least a portion of at least oneof the identification information, the first information, the conditionsfor transfer in (f), the conditions for transfer in (h), the agreementof (g), and the agreement of (i) is received by way of the at least onefield of the interface via an internet-type network.
 9. The method ofclaim 8, wherein the computer system of the intermediary includes aserver hosting a website, and wherein the website hosted by the serverprovides a plurality of web pages that form at least a portion of theinterface.
 10. The method of claim 1, wherein at least one of thefollowing is true: at least a portion of at least one of theidentification information, the first information, the conditions fortransfer in (f), the conditions for transfer in (h), the agreement of(g), and the agreement of (i) is obtained by the intermediary by atleast one of prompting a user to answer a question, providing aselectable item, and providing an open entry space into which the usercan provide a submission, and wherein the intermediary receives usernameand password information from the first and second parties by way of theinterface.
 11. The method of claim 1, wherein the intermediary is aninvestment bank for which facilitating intellectual property transfersis a primary business purpose, and wherein the intermediary facilitatesat least one additional transfer of at least one additional propertyinterest in at least one additional patent asset between at least oneadditional first party and at least one additional second party.
 12. Themethod of claim 1, wherein at least one of following is performed by wayof the computer system of the intermediary: the verifying of the atleast one aspect of the property rights; the evaluation; preparing ofthe agreement resulting from the negotiating of (f); and preparing ofthe agreement resulting from the negotiating of (h).
 13. The method ofclaim 1, wherein at least some of (a)-(i) are performed by at least onehuman being and do not involve the web.
 14. The method of claim 13,wherein the evaluation is performed at least in part by an employee ofthe intermediary, and wherein the intermediary is in communication withat least one of the first and second parties by way of at least oneemail message.
 15. The method of claim 1, wherein the intermediaryinteracts with an exchange entity to at least one of browse informationavailable at the exchange entity, and retrieve information from theexchange entity, place a first bid in relation to the exchange entity,and respond to a second bid communicated via the exchange entity. 16.The method of claim 15, wherein the computer system of the intermediaryis in communication with an additional computer system of the exchangeentity, and wherein the computer system of the intermediary employssoftware facilitating interactions with the additional computer systemof the exchange entity.
 17. The method of claim 1, further comprising atleast one of; (i) comparing at least one of the technological scope ofthe patent asset, the product coverage of the patent asset, and themarket for products covered by the patent asset with additionalinformation received from a plurality of parties concerning needs ofthose parties relating to patent rights; (ii) comparing a firstdescription of a need of at least one additional party relating topatent rights with further information received from a plurality offurther parties concerning patent assets available for transfer fromthose parties; and (iii) consulting at least one of a public databaseand a private database to identify an owner of a desired patent assetand, upon identifying the owner, contacting the owner.
 18. A method offacilitating an overall transfer of at least one property interest in apatent asset between first and second parties by way of the Web, thefirst and second parties each being a respective corporate entity, themethod comprising: (a) providing an interface by way of a computersystem of an intermediary by which at least one of the first and secondparties can communicate with the intermediary; b) receivingidentification information from at least one of the first and secondparties by way of at least one of the web, the internet, a maildelivery, a telephone connection and another communication linkage; (c)obtaining first information concerning the patent asset, wherein thefirst information includes at least one of a number identifying thepatent asset, a filing date, an issue date, expiration information,descriptive information concerning a technical subject matter of thepatent asset, product information regarding a product that is within ascope of the patent asset, and market information regarding a market towhich the patent asset pertains; (d) verifying at least one aspect ofproperty rights of the first party in the patent asset, wherein theverifying includes checking an ownership status of the patent asset; (e)performing at least one evaluation, wherein the evaluation relates to atleast one of a financial value of the patent asset, a technologicalscope of the patent asset, a product coverage of the patent asset, amarket for products covered by the patent asset, and whether there hasbeen at least one past inquiry concerning the patent asset, theevaluation being performed at least in part by an employee of theintermediary; (f) negotiating conditions for transfer of at least someof the first party's property rights; (g) transferring the at least someof the first party's property rights to the intermediary based on anagreement resulting from the negotiating of (f), whereby the at leastsome of the first party's property rights become property rights of theintermediary; (h) negotiating conditions for transfer of at least someof the intermediary's property rights; and (i) transferring the at leastsome of the intermediary's property rights to the second party based onan agreement resulting from the negotiating of (h).
 19. The method ofclaim 18, wherein the intermediary is an investment bank for whichfacilitating intellectual property transfers is a primary businesspurpose, wherein at least some of (a)-(i) in addition to (e) areperformed by at least one human being, and wherein the conditions fortransfer in (f) include a requirement to transfer at least one of anassignment of the patent asset and a license to the patent asset.
 20. Amethod of facilitating an overall transfer of at least one propertyinterest in a patent asset between first and second parties by way ofthe web, the first and second parties each being a respective corporateentity, the method comprising: (a) providing an interface by way of acomputer system of an intermediary by which at least one of the firstand second parties can communicate with the intermediary; b) receivingidentification information from at least one of the first and secondparties; (c) obtaining first information concerning the patent asset,wherein the first information includes at least one of a numberidentifying the patent asset, a filing date, an issue date, expirationinformation, descriptive information concerning a technical subjectmatter of the patent asset, product information regarding a product thatis within a scope of the patent asset, and market information regardinga market to which the patent asset pertains; (d) verifying at least oneaspect of property rights of the first party in the patent asset; (e)performing at least one evaluation, wherein the evaluation relates to atleast one of a financial value of the patent asset, a technologicalscope of the patent asset, a product coverage of the patent asset, amarket for products covered by the patent asset, and whether there hasbeen at least one past inquiry concerning the patent asset; (f)negotiating conditions for transfer of at least some of the firstparty's property rights; (g) transferring the at least some of the firstparty's property rights to the intermediary based on an agreementresulting from the negotiating of (f), whereby the at least some of thefirst party's property rights become property rights of theintermediary; (h) negotiating conditions for transfer of at least someof the intermediary's property rights; and (i) transferring the at leastsome of the intermediary's property rights to the second party based onan agreement resulting from the negotiating of (h), wherein thetransferring in at least one of (g) and (i) occurs by way of anadditional exchange entity with which the intermediary interacts, andwherein at least one of (a)-(i) is performed at least in part by way ofan employee of the intermediary.